Suncor Energy Inc. (SU) PT Raised to C$47.00 at Royal Bank Of Canada

Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its target price increased by investment analysts at Royal Bank Of Canada from C$45.00 to C$47.00 in a report issued on Friday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 9.81% from the stock’s current price.

A number of other analysts also recently issued reports on SU. JPMorgan Chase & Co. raised their price target on shares of Suncor Energy from C$39.00 to C$40.00 in a report on Monday, September 12th. Raymond James Financial Inc. raised their price target on shares of Suncor Energy from C$42.00 to C$43.00 in a report on Wednesday, October 12th. Scotiabank raised their price target on shares of Suncor Energy from C$40.00 to C$44.00 and gave the company an “outperform” rating in a report on Friday, October 28th. BMO Capital Markets raised their price target on shares of Suncor Energy from C$42.00 to C$45.00 and gave the company an “outperform” rating in a report on Thursday, October 27th. Finally, Barclays PLC raised their price target on shares of Suncor Energy from C$50.00 to C$52.00 and gave the company an “overweight” rating in a report on Friday, October 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Suncor Energy currently has an average rating of “Buy” and a consensus target price of C$43.27.

Shares of Suncor Energy (TSE:SU) opened at 42.80 on Friday. The firm has a 50-day moving average of $39.22 and a 200-day moving average of $36.37. Suncor Energy has a 12-month low of $27.32 and a 12-month high of $42.86. The firm’s market capitalization is $71.26 billion.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.71%.

About Suncor Energy

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.